Germany, Ghana Investors Forum To Boost Trade Ties

Finance Minister Ken Ofori-Atta has said the Germany Ghana Investors Forum is a platform set to boost trade ties between the country and Europe.

Mr. Ofori Atta said, “What we’re seeing is a certain clarity with regards to the Compact Africa and how Germany is looking at interventions to make sure that we sustain the type of progress that we have made in creating Ghana as a true business hub for us to be a regional centre on macroeconomic stability and fiscal consolidation. The signing of the VW agreement is an indication of things to come.”

He was speaking at the Germany Ghana Investors Forum in Accra.

The Forum, which complements the G20 Compact with Africa, has seen German investors deepen economic ties with Ghana especially in the automobile industry where Ghana currently imports about $150 million worth of cars and spare parts annually.

Chief Executive Officer of the Ghana Investment Promotion Council (GIPC) Yoofi Grant said, “This year, we targeted 10 billion dollars in foreign direct investments and we are on course to achieving that. We are still committed to ensuring that we provide competitive economic reforms to make Ghana an attractive investment hub. The competition for German capital is high across Africa and we are very focused on that,” he explained to Joy Business.

The Germany Ghana Investors Forum was in partnership with the International Finance Corporation, a member of the World Bank Group.

This forum comes just few weeks before the heads of state meeting in the German capital of Berlin on the Compact with Africa.

Discussions at the Investors Forum focuses on three themes - Automotive Industry, Agriculture and Financial Technology.